Wells Fargo & Co. on Friday joined the crowd of major banks cutting their dividends. The parent of St. Louis-based Wachovia Securities cut its dividend from 34 cents to 5 cents. That followed recent cuts by U.S. Bank, Bank of…
U.S. Bank slashed its dividend by 88 percent Wednesday citing “uncertainty in the financial markets and a weakening economy.”
CEO Richard K. Davis also noted the federal government’s growing emphasis on common equity as a measure of financial strength. Cutting the…
Moody’s Investors Service called Ameren Corp.’s 39 percent dividend cut, announced late Friday, a “conservative, prudent and credit positive action that will conserve cash and support financial coverage metrics.” But the move wasn’t enough to merit a ratings upgrade. Moody’s still…
